Quick Tap service, an NFC based mobile payments joint venture of Orange and Barclaycard, that is the first service that allows the users to make their payments via their mobile phones, was launched today in U.K.
The NFC technology is poised to revolutionise the mobile payments market, by allowing applications to turn Smartphones into virtual wallets.
Purchases up to £15 can be made simply by using the service, which also provides users their purchase records along with the amount they can further spend.
It is initially available only on Smartphones offered by Orange like the Samsung Tocco. Barclay's, Orange customers and Barclaycard cardholders can use the Quick Tap to transfer up to £100 to their phone account.
The service implements a SIM based approach and ensures security of payment for the customers as transactions done through this system can be verified in real time. In case the phone gets stolen one can protect the money by contacting Orange and which will promptly shut the service down for that phone.
Communication on Quick Tap takes place through near field communication technology which allows the exchange of data over the distance of about 4 cm.
“Orange Quick Tap is the first of its kind, a service that allows you to pay for everyday items just by tapping your phone wherever you see the contactless payment symbol. It's going to start a revolution in the way we pay for things on the high street,” Pippa Dunn, the Orange vice-president said in a statement.